For those of you not familiar with technical terms, in addition to financial terms, a noobie is like a rookie. A noob or noobie is new and hence does not have a lot of knowledge about the subject at hand. Well, my goal in putting this page together is to help people with some things that I have learned along the way in my life. Hopefully, you will find something here that is useful to you. Please note however that I am not a licensed financial professional and you should seek advice of a qualified attorney, CPA, financial planner or all of the above before making any financial decisions.
How is this site organized? Good question. There is really not much organization here. Hopefully, you are using a browser with a good search function like FireFox so that you can look for subjects and keywords you are interested in. Hopefully, some day soon, I will get around to organizing the site in a logical way with multiple pages. Until then, this is what you get.
I will start of on the subject of real estate, because that is something that I have quite a bit of experience with. I have acted as a real estate broker, commercial real estate investor as well as a private money or hard money lender. While some of these terms and labels may not mean much to you, hopefully I will be able to give you enough background that you at least leave here with a general understanding of what each is. More importantly, you might gleann some information on how real estate fortunes are won and lost.
Most people are introduced to the world of real estate by their aunt Ginnnie who has her "real estate license." It seems, for some reason, that getting your real estate license is something that people do simply to "get it." I never understood this mentality, but some day, maybe someone will explain this to me. Anyway, being licensed to represent buyers and sellers in a real estate transaction is more important than most people think. After all, name something you will borrow more money to buy in your lifetime than a piece of real estate. Purchasing and selling real estate should never be taken lightly and should be something that is done with care, concern and due dilligence.
This is why there are so many active real estate agents and brokers around the country. There is a great need for knowledge and expertise due to the high demand for real estate today. Unfortunately, many people do not give them enough credit and many inside the industry do not take their occupation seriously enough.
If you are looking for a way to learn how to make money in real estate, brokering real estate is a great way to get your feet wet and learn a ton. It is not easy and not for those who are looking for a 9 to 5 job with 2 weeks of vacation every year. It is also not a good occupation for people who cannot budget their time or their money. With that said, the sky is the limit with regards to how much money you can make in the real estate industry. If you want to sit around the water cooler and shoot the breeze, then find a corporate job. If you want to learn the real estate biz and make some serious money, here are a few tips.
First, get your real estate license. This is usually pretty easy no matter what state you live in. While you are studying for your test, start reading the Sunday paper's real estate sections and see what the big companies are that are advertising and more importantly, who the agents/brokers are who have the most listings being advertised. Learn who these people are and start compiling a list. When you get your license, start calling, or better yet go to their office and introduce yourself. Tell them that you are looking to get started in real estate and you know that they are one of the top agents/brokers in town and you would love to do whatever it takes to learn from them. You want to learn from successful people, so work your way down the list until you have success finding someone to work for/under. While you can learn the real estate business from different types of people, you want to work with people who have lots of real world experience and who are very active in the marketplace. The information you learn on a daily basis is invaluable.